EBRD Managing Director Matteo Patrone will visit Moldova this week and discuss assistance to improve energy security with the government.
The EBRD's Eastern Europe and Caucasus Executive Director is visiting Chisinau this week to underscore the EBRD's support for Moldova to reduce the impact of the war in Ukraine, support the European Commission's recommendation to grant Moldova candidate country status for EU accession, and discuss ways to improve the country's energy security, among other things, according to the European Bank for Reconstruction and Development. The EBRD notes that Moldova has received nearly half a million refugees from Ukraine since the Russian invasion began on February 24. Many have passed through Moldova in transit to other countries, but now in Moldova, with a population of 2.7 million people, there are 90 thousand Ukrainian refugees. Meanwhile, our country is heavily dependent on natural gas imports, and all gas is currently imported from Russia via Ukraine. To deal with the aftermath of war in the region, the EBRD has developed a 2 billion euro Resilience and Livelihoods Framework Program to help Ukraine and neighboring countries withstand the challenges. This framework ranges from restructuring and emergency liquidity support for enterprises and recovery support for small and medium-sized enterprises to support for energy security. In Moldova’s case, the EBRD is working closely with the government on boosting energy security, both through diversifying supplies and a commitment to step up investments in projects that promote Moldova’s green agenda. During his three-day visit, Mr Patrone will meet Prime Minister Natalia Gavrilita, cabinet ministers, officials from the National Bank of Moldova and existing and potential business partners including local banks and Danube Logistics, the operator of Giurgiulesti International Free Port. The EBRD is a leading institutional investor in Moldova and, to date, has invested more than €1.5 billion in the country through 154 projects. It has also provided advisory services to more than 1,000 Moldovan firms to help them improve performance and grow. As InfoMarket Agency earlier reported, Moldova is planning to receive from EBRD a loan of 300 million euros to create summer gas reserves, as well as for further urgent purchases of gas, if necessary. The money will be allocated for implementation of the project "Security of Natural Gas Supply". Of the total sum of 300 million euros, 150 million euros will be used to buy gas and create reserves this summer, and the remaining 150 million euros will be used for urgent gas purchases if necessary. // 21.06.2022 - InfoMarket
